Ramaco Resources (NASDAQ:METC) Price Target Cut to $13.00 by Analysts at Morgan Stanley

Ramaco Resources (NASDAQ:METC) had its price objective reduced by analysts at Morgan Stanley from $17.00 to $13.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the energy company’s stock. Morgan Stanley’s price objective indicates a potential upside of 6.91% from the stock’s current price.

A number of other research analysts also recently commented on METC. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ramaco Resources in a research report on Thursday, June 18th. Robert W. Baird decreased their target price on shares of Ramaco Resources from $30.00 to $25.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Zacks Research upgraded shares of Ramaco Resources from a “strong sell” rating to a “hold” rating in a report on Friday, April 10th. The Goldman Sachs Group raised shares of Ramaco Resources from a “sell” rating to a “neutral” rating and upped their price target for the stock from $14.00 to $15.00 in a research note on Tuesday, April 21st. Finally, B. Riley Financial reduced their price objective on Ramaco Resources from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $26.71.

Ramaco Resources Stock Down 2.3%

Shares of Ramaco Resources stock opened at $12.16 on Wednesday. The stock has a 50-day moving average price of $14.46 and a 200 day moving average price of $16.11. The company has a market cap of $792.59 million, a P/E ratio of -11.05 and a beta of 1.35. The company has a current ratio of 4.88, a quick ratio of 3.93 and a debt-to-equity ratio of 1.06. Ramaco Resources has a 1 year low of $11.34 and a 1 year high of $57.80.

Ramaco Resources (NASDAQ:METC) last announced its quarterly earnings data on Monday, May 11th. The energy company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.08). The business had revenue of $101.41 million for the quarter, compared to analyst estimates of $129.72 million. Ramaco Resources had a negative return on equity of 13.44% and a negative net margin of 11.52%.The company’s revenue was down 9.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.20) earnings per share. As a group, analysts expect that Ramaco Resources will post -0.27 EPS for the current fiscal year.

Insider Buying and Selling

In other Ramaco Resources news, major shareholder Discovery Capital Management, sold 200,000 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $14.79, for a total value of $2,958,000.00. Following the completion of the sale, the insider directly owned 5,311,360 shares of the company’s stock, valued at $78,555,014.40. The trade was a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 46.07% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ramaco Resources

A number of large investors have recently bought and sold shares of the business. Lunt Capital Management Inc. lifted its position in shares of Ramaco Resources by 801.3% in the fourth quarter. Lunt Capital Management Inc. now owns 557,899 shares of the energy company’s stock worth $10,042,000 after buying an additional 495,999 shares during the last quarter. Ghisallo Capital Management LLC acquired a new position in shares of Ramaco Resources during the 3rd quarter valued at about $9,957,000. Cinctive Capital Management LP acquired a new position in shares of Ramaco Resources during the 3rd quarter valued at about $2,707,000. Bamco Inc. NY bought a new position in shares of Ramaco Resources in the 3rd quarter valued at approximately $20,679,000. Finally, Texas Yale Capital Corp. lifted its holdings in Ramaco Resources by 331.9% in the 4th quarter. Texas Yale Capital Corp. now owns 142,488 shares of the energy company’s stock worth $2,565,000 after purchasing an additional 109,500 shares during the last quarter. 74.49% of the stock is currently owned by institutional investors.

Ramaco Resources Company Profile

Ramaco Resources, Inc (NASDAQ:METC) is a U.S.-based producer of premium metallurgical coal and industrial minerals, focused on supplying the steel and allied industries. The company’s operations are centered in the Appalachian region of West Virginia, where it develops, mines and processes high-carbon coal products designed to meet the quality requirements of blast‐furnace and electric‐arc furnace steelmakers.

The firm’s flagship asset is the Elk Creek underground mine in Wyoming County, West Virginia, which began commercial production in 2019 and delivers a range of high‐grade metallurgical and anthracite coals.